Manatuck Hill Partners LLC grew its holdings in MannKind Co. (NASDAQ:MNKD - Free Report) by 33.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 300,000 shares of the biopharmaceutical company's stock after buying an additional 75,000 shares during the period. Manatuck Hill Partners LLC owned 0.11% of MannKind worth $1,929,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of MNKD. Barclays PLC grew its stake in MannKind by 186.0% during the 3rd quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company's stock valued at $3,271,000 after acquiring an additional 338,121 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of MannKind by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company's stock worth $1,047,000 after purchasing an additional 4,603 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of MannKind by 401.8% in the third quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company's stock valued at $1,060,000 after purchasing an additional 134,937 shares in the last quarter. 180 Wealth Advisors LLC increased its holdings in shares of MannKind by 1.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 2,105,707 shares of the biopharmaceutical company's stock valued at $13,540,000 after purchasing an additional 21,170 shares during the last quarter. Finally, New Wave Wealth Advisors LLC lifted its position in MannKind by 78.6% during the fourth quarter. New Wave Wealth Advisors LLC now owns 50,000 shares of the biopharmaceutical company's stock worth $322,000 after buying an additional 22,000 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on MNKD. StockNews.com raised MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Mizuho initiated coverage on shares of MannKind in a research report on Thursday, April 10th. They set an "outperform" rating and a $12.00 price objective for the company. Finally, Wedbush reiterated an "outperform" rating and issued a $11.00 target price on shares of MannKind in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $9.56.
View Our Latest Stock Report on MNKD
MannKind Stock Up 1.0 %
Shares of MNKD traded up $0.05 during trading on Friday, reaching $5.00. 1,639,769 shares of the company traded hands, compared to its average volume of 2,389,147. The stock has a 50-day simple moving average of $4.94 and a 200-day simple moving average of $5.88. MannKind Co. has a twelve month low of $4.17 and a twelve month high of $7.63. The stock has a market cap of $1.52 billion, a PE ratio of 71.43 and a beta of 1.14.
MannKind (NASDAQ:MNKD - Get Free Report) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.03. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The company had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. On average, equities research analysts predict that MannKind Co. will post 0.1 EPS for the current year.
MannKind Company Profile
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Free Report)
MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.
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